AQUISITIE VAN WALKRO INTERNATIONAL DOOR MONAGHAN MUSHROOMS EN GIMV

Holland Corporate Finance is pleased to announce that its client, Monaghan Mushrooms, together with private equity firm Gimv and the management, has acquired the shares of Walkro International from Bencis Capital Partners.

Walkro International is a leading mushroom substrate producer in the Benelux and Germany. The company was established in Belgium in 1991 and has built a superior competitive position over the years by executing a successful buy-and-build strategy in combination with organic growth. Today it has sites in the Netherlands, Belgium and Germany, where substrate is produced for mushroom cultivators in Europe and Asia. With a turnover of around 65 million euro and approximately 230 employees Walkro International is the largest producer in its industry in Europe.

Monaghan Mushrooms was established in Ireland in 1981 and grew into one of the world’s leading integrated mushroom companies with operations spanning compost production, mushroom growing, packaging and distribution. Monaghan Mushrooms has operations across Ireland, the UK and Canada, countries in which it supplies a full range of fresh mushrooms to leading national and international retailers. The company has a turnover of around 265 million euro and approximately 2,750 employees.

Next to Monaghan Mushrooms, equity was provided by Gimv, an independent investment company listed on Euronext Brussels. Gimv specialises in private equity and venture capital, focusing mainly on the European market. Debt packages were provided by ING Bank and Rabobank.

Walkro International will continue to be run as an independent entity within the Monaghan group. Together with its new shareholders, Walkro International’s management will continue to execute the company’s successful strategy and further strengthen its position as the leading supplier of substrate for the cultivation of mushrooms in Europe.

Holland Corporate Finance structured and executed the transaction together with IBI Corporate Finance, its Irish partner firm within M&A International Inc.

The transaction team of Holland Corporate Finance consisted of Ruud van Hoek and Mark Pel. Debt advisory services were provided by Robert Verwoerd of HCF Debt Advisory.